Abstract

The development of money – manufactured coins – led to pervasive changes in economic exchange and in the structure of society. Coinage was a successful response to problems of earlier economic paradigms – barter and commodity money – but entrained problems of its own, including hoarding and disinvestment, and diminished social capital through weak ties. Contemporary alternative currencies, including recognition-based currencies, community currencies, and cryptocurrencies, can be seen as emergent responses to the problems of money.

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